IBT Staff Reporter

U.S. mortgage fraud reports jumped 36 percent last year as desperate homeowners and industry professionals tried to maintain their standard of living from the boom years, the FBI said on Tuesday.

G8 leaders were due to agree a goal of limiting global warming to 2 degrees Celsius (3.6 Fahrenheit) above pre-industrial levels at a summit in Italy Wednesday.

The first day of the meeting will group the leaders of the Group of Eight -- United States, Britain, Germany, Italy, France, Russia, Canada and Japan -- plus European Commission President Jose Manuel Barroso and current EU president Sweden.

Global economic recovery is not yet guaranteed and governments will worry about the bill for heavy stimulus spending once it has succeeded, world leaders are set to say at a summit in Italy.

Chinese authorities are detaining Rio Tinto Ltd's top iron ore negotiator on suspicion of espionage and stealing state secrets, Australia said on Wednesday, threatening to strain already fraying ties.

Following are analysts' comments on a draft statement drawn up by the Group of Eight at their summit in Italy, covering a range of issues including energy markets and the need for reaching the Doha trade goals.

The leaders of the Group of Eight -- United States, Britain, Germany, Italy, France, Russia, Canada and Japan -- plus European Commission President Jose Manuel Barroso and current EU president Sweden gathered in Italy to discuss the end of recession, financial regulation, Doha trade round.

Family Dollar Stores Inc reported a 36 percent jump in quarterly profit topping market estimates and forecast fourth quarter in line or above analysts' view as more shoppers scoured its aisles for low prices on food, shampoo and household cleaners.

Alcoa awaited, Global star upcoming, Energy conferences

U.S. stocks rose on Wednesday as investors searched for bargains a day after shares fell to a 10-week low, while the start of quarterly earnings season was in focus.

The global economy is starting to pull out of its deepest recession since World War Two but recovery will be sluggish and policies need to remain supportive, the International Monetary Fund said on Wednesday.

John Meriwether's hedge fund firm JWM Partners LLC plans to close his current hedge fund, which lost 44 percent from September 2007 to February 2009, Bloomberg reported, citing a person familiar with the matter.

Las Vegas Sands, the world's largest casino firm, wants to raise $3-$4 billion and is considering several options including an IPO of its Macau assets in Hong Kong, Chairman and CEO Sheldon Adelson said on Wednesday.

MSC Software Corp, a simulation and software services company, has agreed to a $360 million buyout by private equity firm Symphony Technology Group and private investment firm Elliott Management Corp.

Wall Street looked for a slightly higher open on Wednesday after the International Monetary Fund said the global economy was starting to pull out of recession, offsetting investor anxiety over the start of quarterly earnings season.

Malaysian telecom firm Axiata has expressed interest to buy the Sri Lankan and Cambodian assets of Luxembourg-based telecom operator Millicom worth at least $500 million, sources with direct knowledge of the deal told Reuters.

Ghana has concluded licence negotiations with Tullow Oil on operating the Jubilee oilfield and government approval is imminent, the country's deputy energy minister said on Wednesday.

U.S. stock index futures pointed to a flat open on Wednesday, after shares hit a 10-week low the previous session, as anxious investors awaited the start of the quarterly earnings season.

Pepsi Bottling Group Inc reported a higher-than-expected quarterly profit, bolstered by price increases and lower costs.

Brazil's antitrust regulator imposed temporary restrictions on Perdigao's 1.4-billion-real ($710 million) takeover of rival foodmaker Sadia until a final ruling on the transaction is made.

Magna remains on track to reach a deal to buy GM's Opel but it cautioned that the timetable for a signing could be too ambitious, the head of Magna's European business said in a newspaper interview.

Canadian companies raised at least C$950 million ($819 million) in two initial public offerings that closed on Tuesday, potentially signaling an end to a long dry spell in IPO activity in the Canadian marketplace.

China National Pharmaceutical Group Corp (Sinopharm) plans to float its drug-making and distribution businesses, raising about 7 billion yuan ($1.03 billion) in an initial public offering of H-shares in Hong Kong in October, the Wen Wei Po newspaper reported on Wednesday.

South Korean authorities issued a cyber security warning on Wednesday after the websites of government agencies and financial institutions were disabled by apparent hacker attacks, possibly linked to North Korea.

A failure of major economies to set a target for halving world greenhouse gas emissions by 2050 at a summit in Italy is a setback to any agreement at a December climate change conference in Copenhagen.

G8 leaders believe the world economy still faces significant risks and may need further help, according to summit draft documents that also reflect failure to agree climate change goals for 2050.

U.S. stock index futures pointed to a flat open on Wednesday, after hitting a 10-week low the previous session, as anxious investors awaited the start of quarterly earnings season.

U.S. stock index futures pointed to a slightly higher open on Wednesday, following steep losses the previous session, but anxiety over the start of the earnings season dampened optimism.

South Korean authorities issued a cyber security warning on Wednesday after the Web sites of government agencies and financial institutions were disabled by apparent hacker attacks, possibly linked to North Korea.